Feb 5, 202514:09GMT+7
Key points:
- KOSPI rises, foreigners net buyers
- Korean won strengthens against dollar
- South Korea benchmark bond yield steady
(Reuters) - Round-up of South Korean financial markets:
** South Korean shares rose more than 1% on Wednesday as investor worries over U.S. tariffs eased and hopes around the prospect of artificial intelligence (AI) increased.
** The benchmark KOSPIclosed up 27.58 points, or 1.11%, at 2,509.27.
** U.S. President Donald Trump suspended planned tariffs on imports from Mexico and Canada but went ahead with tariffs on China, which were promptly met by Beijing's countermeasures.
** "We needed clues on whether Trump's tariffs were to have the upper hand in trade negotiations or to counter China and it seems, at least for now, that they are for negotiations," said Na Jeong-hwan, an analyst at NH Investment Securities.
** E-commerce firms rallied on hopes that they would benefit from cheaper AI technologies, after the launch of China's DeepSeek.
** Kakaojumped 5.6% after the chat app operator said it would develop AI products with OpenAI. Search engine Naverclimbed 4.8%.
** Most other index heavyweights also advanced, including chip, auto and battery makers.
** LG CNStumbled 9.9% in its trading debut.
** On the macroeconomic front, consumer inflation quickened to a six-month high in January, coming in higher than market expectations on pressure from a weak currency.
** Of the total 943 traded issues, 590 shares advanced, while 303 declined.
** Foreigners were net buyers of shares worth 67.4 billion won ($46.63 million).
** The won was quoted at 1,444.3 per dollar on the onshore settlement platform, 0.50% stronger than its previous close at 1,451.5.
** The most liquid three-year Korean treasury bond yield fell by 0.4 basis point to 2.582%, while the benchmark 10-year yieldfell 1 bps to 2.822%.
($1 = 1,445.4300 won)
Sumber : Reuters